PeerTV PLC Issue of Equity and SEDA Advance Notice (7295K)
04 Enero 2016 - 6:24AM
UK Regulatory
TIDMPTV
RNS Number : 7295K
PeerTV PLC
04 January 2016
4 January 2016
PeerTV PLC
("PeerTV" or the "Company")
Issue of Equity and SEDA Advance Notice
PeerTV plc (AIM:PTV), a provider of technology solutions for the
OTT (TV over the internet) market, and PCB (printed circuit board)
production solutions announces that it has issued 2,551,020
Ordinary shares at a price of 1.96 pence per share to CSS Alpha
(BVI) Limited equivalent to GBP50,000 being part repayment of a
revolving financing facility the balance on which prior to the
issue of these shares is about GBP90,000.
Application has been made for the new shares to be admitted to
trading on AIM and admission is expected to occur at 8:00am on 11
January 2016 ("Admission").
Following Admission, the Company will have in issue 12,312,320
Ordinary Shares. The Company does not hold any Ordinary Shares in
treasury. Therefore the total number of Ordinary Shares with voting
rights in the Company will be 12,312,320. This figure may be used
by Shareholders in the Company as the denominator for the
calculations by which they will determine if they are required to
notify their interest in, or a change to their interest in, the
share capital of the Company.
In addition the Company has issued an Advance Notice to draw
down a further tranche of GBP68,000 under the terms of the Standard
Equity Distribution Agreement ("SEDA") with YA Global Master SPV
Ltd ("YA") dated 28 July 2014. Prior to this notice, the Company
had drawn down a total of GBP1,111,282 out of a total facility of
GBP1.8 million .
Drawdowns under this facility are being used to provide the
Company with additional working capital and to fund its costs as it
continues to trade.
Under the terms, new Ordinary Shares will be issued at an agreed
discount of 7% to the prevailing market price (based on the lowest
daily Volume Weighted Average Price during the 10 dealing day
pricing period) which commenced on 04 January 2016. In addition, a
3% fee is deductible from the net advance under the drawdown.
The ten day pricing period is scheduled to finish on 15 January
2016 and accordingly the Company will issue such number of shares
necessary to satisfy the drawdown under the SEDA Facility during
the week ending 22 January 2016.
Further enquiries:
PeerTV Plc
Eitan Yanuv, Chairman
Tel: +972 974 07315
ZAI Corporate Finance Limited
Tim Cofman / Richard Morrison
Tel: +44 20 7060 2220
Daniel Stewart & Company plc
David Coffman
Tel: +44 20 7776 6550
This information is provided by RNS
The company news service from the London Stock Exchange
END
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January 04, 2016 07:24 ET (12:24 GMT)
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